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119-s-2915119th CongressWALLET

SPUR Housing Act

Sponsored By: Senator Durbin, Richard J. [D-IL]

Introduced

Summary

Funding to help emerging developers build affordable housing. This bill would require HUD to create an Emerging Developer Fund Program that gives competitive grants to nonprofit housing organizations and community development financial institutions to train, lend to, and technically support developers with limited experience or capital.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

New HUD grants for emerging developers

If enacted, HUD would set up an Emerging Developer Fund within one year to give competitive grants. The grants would go to nonprofit housing groups and certified community development financial institutions. Congress would be authorized to appropriate $50 million each year for fiscal years 2026 through 2030. Funds could pay for predevelopment loans, loan loss reserves, grants, risk sharing, interest-rate buydowns, and training. HUD must prioritize groups serving undercapitalized or low-experience developers, track outcomes, and coordinate with Treasury. No single organization could get more than 15 percent of the program's appropriated money.

Sponsors & CoSponsors

Sponsor

Durbin, Richard J. [D-IL]

IL • D

Cosponsors

  • Sen. Rosen, Jacky [D-NV]

    NV • D

    Sponsored 12/1/2025

Roll Call Votes

No roll call votes available for this bill.

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